Brokerages Anticipate Corium International, Inc. (CORI) Will Post Quarterly Sales of $8.47 Million
Brokerages forecast that Corium International, Inc. (NASDAQ:CORI) will announce sales of $8.47 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Corium International’s earnings, with estimates ranging from $8.23 million to $8.71 million. Corium International reported sales of $10.61 million in the same quarter last year, which indicates a negative year-over-year growth rate of 20.2%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that Corium International will report full year sales of $8.47 million for the current financial year, with estimates ranging from $30.01 million to $31.47 million. For the next fiscal year, analysts forecast that the company will post sales of $44.97 million per share, with estimates ranging from $38.19 million to $51.74 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Corium International.
Corium International (NASDAQ:CORI) last released its quarterly earnings results on Thursday, May 11th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.05. The company had revenue of $7.35 million for the quarter, compared to the consensus estimate of $6.05 million. Corium International had a negative net margin of 116.59% and a negative return on equity of 1,550.00%.
Several analysts have recently commented on CORI shares. FBR & Co reaffirmed an “outperform” rating and set a $13.00 price target (up previously from $12.00) on shares of Corium International in a research report on Tuesday, April 18th. Jefferies Group LLC set a $8.00 target price on Corium International and gave the company a “buy” rating in a research report on Thursday, April 20th. Zacks Investment Research downgraded shares of Corium International from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Corium International in a research note on Friday, April 14th. Finally, ValuEngine upgraded shares of Corium International from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Corium International currently has an average rating of “Buy” and an average target price of $11.25.
Corium International (CORI) traded up 2.458% during trading on Wednesday, hitting $7.295. The stock had a trading volume of 12,345 shares. Corium International has a 52-week low of $2.67 and a 52-week high of $8.33. The company’s market cap is $213.25 million. The firm’s 50-day moving average price is $6.43 and its 200-day moving average price is $4.65.
In related news, major shareholder Perceptive Advisors Llc bought 1,902,400 shares of the stock in a transaction on Thursday, May 25th. The shares were bought at an average cost of $6.25 per share, for a total transaction of $11,890,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 45.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CORI. Bank of New York Mellon Corp raised its stake in Corium International by 118.1% in the first quarter. Bank of New York Mellon Corp now owns 25,269 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 13,683 shares in the last quarter. Royce & Associates LP raised its stake in Corium International by 208.4% in the first quarter. Royce & Associates LP now owns 548,464 shares of the biopharmaceutical company’s stock valued at $2,293,000 after buying an additional 370,600 shares in the last quarter. Vanguard Group Inc. raised its stake in Corium International by 44.1% in the first quarter. Vanguard Group Inc. now owns 500,965 shares of the biopharmaceutical company’s stock valued at $2,094,000 after buying an additional 153,358 shares in the last quarter. Geode Capital Management LLC raised its stake in Corium International by 0.6% in the first quarter. Geode Capital Management LLC now owns 69,552 shares of the biopharmaceutical company’s stock valued at $290,000 after buying an additional 444 shares in the last quarter. Finally, AWM Investment Company Inc. raised its stake in Corium International by 1,125.9% in the first quarter. AWM Investment Company Inc. now owns 2,451,700 shares of the biopharmaceutical company’s stock valued at $10,248,000 after buying an additional 2,251,700 shares in the last quarter. Institutional investors and hedge funds own 77.47% of the company’s stock.
About Corium International
Corium International, Inc is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products. As of September 30, 2016, the Company had multiple programs in preclinical and clinical development focused primarily on the treatment of neurological disorders, with two lead programs in Alzheimer’s disease.
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